Magma Fincorp has informed that the Board of Directors of the Company at its meeting held on February 27, 2015, has authorized to issue and allot preference shares of the face value of Rs 100 each, for an aggregate value not exceeding Rs 150 crore, as Cumulative Redeemable Non-convertible Preference Shares (CRNPS), for cash at par or at such premium, as the Board may deem fit, on a private placement basis in one or more tranches, for a term not exceeding 7 years, to such person or persons and in such proportion and on such terms and conditions as may be determined and deemed appropriate, subject however to the approval of the Shareholders and has also authorised Committee of Directors to deal with all the matters connected thereto.
The above information is a part of company’s filings submitted to BSE.
